12/26 – FOMO trade analysis

I Started my day trading career with Tim Sykes, where I learned the basics of high risk day trading. When I wanted to learn more, I joined Investors Underground. They opened my eyes to new setups and gave me a wider scope of the markets. The DVD’s that helped me the most were Tim Grittani’s Trading Tickers and Nate Michaud’s Tandem Trader.  I use FINVIZ to scan for stocks for my daily watch list. Click on the highlighted links for more details. For my main page, please click here: Day trading for beginners


 

Just some Simple images that help me to become a better trader and I hope it helps you too!

20181226 - TWTR loss

To sum things up: “this was a total stupid FOMO trade because I missed the big move on JD”. It looked good and my bias was that the SPY would go red and drag this with it. Which didn’t happen and I was stopped out in less then a minute. I thought it was 5 seconds but it turned out to be 1 minute and 5 seconds. In at $27.00 stopped out at $27.15

 

On Monday I traded JD and was stopped out in 20 seconds! Here’s the chart. This was a long trade and FOMO trade. Second time in I stopped out at break even. Definitely not the best trades ever!

20181224 - JD - long

What I learned is that you need to have some confirmation. But also the market can eat you and do what ever it wants to do. Initially I didn’t wait for confirmation (higher lows in case of a long / buying) I just jumped in at a price I thought was perfect. The second time I bought at the same price, with confirmation. However, I got impatient and sold at break even because I did not want to lose more then USD 10.00 / commissions.

SERVICES THAT CAN HELP YOU

For trading large and mid caps is hot business, Tandem Trader offers some insight on how to trade them.

Kindly click the following link here for more info on Tandem Trader:

Tandem Trader DVD

Also, if you are interested in short selling, you should check out Trading Tickers, which contains two important strategies 1). shorting parabolic moves and 2). buying breakouts.

You can find it by clicking the following link:

Trading Tickers

I hope you enjoyed this blog entry! As always, feel free to share this post!


If you are interested in Investors Underground and would like to learn more, please click the link here: Investors Underground.

  • kindly note here that this should not be treated as advice, trade advice or any of the sort. Always trade your own plan, cut losses quickly and never follow any alerts. Always do your own research!

 

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